LEASED | Root Down Power Yoga

Congratulations to Root Down Power Yoga for creating their new studio space at our listing, 1 Linden Place, located at 425 Main Street in Hartford, CT.

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425 Main Street, Hartford

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Nicole Bengtson, founder of Root Down Power Yoga, has announced a Grand Opening for Saturday, April 6, 2019!

For more information about all their studio has to offer, or to book a class, please visit their website at: https://rootdownpoweryoga.com/

#ItsTheLeaseWeCouldDo
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Festival of Trees & Traditions

December Charitable Initiative

The Wadsworth Atheneum’s 45th Annual Festival of Trees & Traditions

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Each holiday season, since 1973, community members, artists, and organizations decorates trees, wreaths, and the like to be displayed in The Wadsworth Atheneum’s gallery throughout the beginning of December. Visitors seeking Christmas cheer come from all over to enjoy the museum’s holiday custom. All of the items features are for sale and can be purchased for your home, or can be donated to a local charity! Profits from the event help The Wadsworth’s special exhibitions, educational programming, and operating expenses.

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NAI Elite contributed a tree entitled: Hartford Stories

Hartford Stories features black and white photos of prominent and historical Downtown Hartford properties, noting the number of stories in each individual building.

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As a Hartford Commercial Real Estate firm, NAI Elite recognizes that the history and energy of our beloved city hold so many stories, our tree features just a mere few! We are overjoyed and honored to be a part of such a meaningful, and longstanding tradition that supports the arts and the community of Downtown Hartford. We wish everyone a very Merry Christmas!

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Happy Holidays!

 

 

6 Best-Practices All Real Estate Investors Should Keep Top-of-Mind

Are you thinking about venturing into the world of real estate investment? There are plenty of things you should know before making the plunge and signing on the dotted line. If you are just starting out you may be wondering where to even begin, but the good news is, every successful real estate investor wondered the same thing. Here are six best-practices all real estate investors should keep top-of-mind.

 

Hire a Bookkeeper

The first thing you should do is hire a bookkeeper because keeping up with documents and paperwork is a lot less stressful if you do it from the start. The documents will come in handy when tax season rolls around and you can write off your bookkeeper as an expense for your business on your taxes.

 

Learn How to Find Deals

One of the hardest parts about investing in real estate is finding the deals. This is a primary function of the business because it’s really what all of real estate investing comes down to. Without a deal, you can’t invest. If you have not, you need to set up your real estate team and systems to be part of finding the deals. An automated lead machine can help you generate leads at all times of the day so you are never losing out on deal opportunities.

 

Be Consistent

Consistency will always beat out talent, resources or experience. Think of real estate investing as a marathon, not a race. You need to accomplish little goals each day to make it to the finish line of this long process. Be sure to track and measure all of your lead-generating efforts. All you need to do to be successful in this is put in the time and effort needed to accomplish these daily goals.

 

Document Everything

You will be swamped if you don’t document and systemize all of the operations of your business and will thus limit your income and growth as well if you are disorganized. As a self-employed individual, the power and control are solely in your hands. First, you need to document and systemize everything, then you need to delegate tasks to others while maintaining clarity and control over the business. Make sure you stay as involved as possible with the business while utilizing documentation and organizing systems.

 

Buy More & Sell Less

Intend to hold every property possible. If you need more cash flow, you may need to flip occasionally, but this is fine because cash pays the bills and keeps the business going. The more properties you hold, the more money you will make in the long run and the quicker you will make the money. Any seasoned real estate investor will tell you to buy more and sell less.

 

Underpromise to Partners

When it comes to investing, people know that there are a lot of variables that are in play and that risk comes with the territory, but when things don’t work out as planned, it’s easy to point the finger. Try to avoid by underpromising to your partners, but overdelivering. Do not borrow more money than you can use.

 

With these six best practices, you will be ready to invest in real estate.

NAI Elite Summer Day Trip 2018: Mystic Whaler Sailboat Luncheon

Team building is an integral part of our our success at NAI Elite. We strive to create a positive and uplifting space for our agents to promote personal growth, celebrate achievements and collaborate ideas… while having a little fun!

This year’s outing was a Sailboat Cruise Luncheon aboard The Mystic Whaler.

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The Mystic Whaler is a reproduction of a late 19th century coastal cargo schooner that was designed for the passenger trade by Chum Crockett of Camden, Maine.  She was built in 1967 in Tarpon Springs, Florida and was rebuilt in 1993 in Providence, Rhode Island.

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We set sail out of New London, Connecticut’s City Pier to enjoy a picturesque afternoon on Long Island Sound.

The team lent a hand to raise sail!

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Captain John, American Schooner Association board member & 2015 Sail Trainer of the Year, manned our tall ship with ease!

A picture perfect day sailing with NAI Elite!DSCN0091

 

Retail is Still Thriving: These Brands are Opening Stores

Retail isn’t all doom and gloom

There are plenty of retailers that are opening stores instead of closing them. Moreover, many are planning to expand beyond this year. However, there is a fundamental change that is happening causing this weird paradigm where there are brand named box store closings everywhere while simultaneously brand named stores are opening and expanding.

The need for enormous department stores and outlet buildings has passed. These days retail is getting smaller as the industry overall is diversifying. News of thousands of closures has led many to believe that retail is dead, but there are many retail store brands that are thriving.

Online Retail Giants Opening Brick-and-Mortar Stores

A big part of this phenomenon is the emergence of online retailers in the physical retail space. Amazon isn’t the only online retail giant getting into brick-and-mortar. The now famous Warby Parker is on pace to nearly double its total number of stores to 100. Bonobos, Untuck, and Everlane are just a few brands that have built their reputations online and are now looking to expand into the retail space, buying up some of the 3K+ stores going up for sale this year. There are an estimated 1,700 new stores slated to open in 2018 but contrary to popular belief, many of those stores are well known brands like Zales, Best Buy, and Autozone.

Traditional Stores are Buying Up Space and Opening New Stores

Toys R Us closed all of their U.S. stores this year. That is after a long trend of named brand store closures including JCPenney, Sears, and Kohl’s. This year, we’ll see twice as many stores close as open, but there are many traditional retailers that will be in the latter group.

Grocery

Aldi’s has been expanding its presence in the U.S. for the last several years. This year, the German grocer will add approximately 180 new stores. Ultimately Aldi’s plans to operate at least 2,500 stores in the U.S. within the next 5 years.

Perhaps it’s a sign of the times but the biggest expansion happening this year is with discount giant Dollar General. While not necessarily a grocery store, it combines both retail and grocery at discounted rates. They plan to open 900 new stores in 2018.

UCONN Development Opportunity

Windham, Connecticut

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Northridge in Windham, CT offers an outstanding development opportunity for a mixed-use project amongst a partially completed built out power center. The land development opportunity is quite unusual with 35 acres of development land with infrastructure in place surrounding an extremely successful Super Walmart as well as a Home Depot. The remaining land available lends itself to a major mixed-use project, with modern conveniences to fit into established retail mecca in Windham. The area is a vibrant established College community with the Eastern Connecticut State University in town and the main campus of the University of Connecticut at Storrs along with The University Club Golf Course within 15 minutes from the site. The Northridge mixed-use project, could provide a much-needed student housing community with amenities of health clubs, hospitality products, medical outpatient centers, entertainment experiences and new restaurant opportunities. Northridge has the land and opportunity to be a successful mixed-use project. Located along CT Route 6 the area is already a major retail hub for Windham County.

 

For information on this property, contact the listing broker, Hugh Schnip, at Hschnip@naielite.com

CRE Summer Survival

10 Best Practices During the Slow Summer Sales Season

1) Keep the Momentum Going! Do more site visits. Make more calls. Send more emails. The time you put in now may not pay off right away but you’ll be heading into football season with a solid pipeline.

2) Database Housekeeping. Go through your contact lists to see where there may be some hidden opportunities to develop new business and Create call lists.

3) Connect with Clients. Reach out to clients to catch up and see how their summer is going (i.e. – are they going anywhere special this summer). Give them a call… send them a handwritten card… Connect on a personal non-business level.

4) Go to Summer School – Improve Yourself. Read, attend classes, learn new subjects, improve skills, refresh topics you already know…. exercise both your body and mind!

5) Update all of Your Social Media. Make sure all of your information is up-to-date, accurate and compelling. Institute a plan to ramp up your social media efforts.

6) Summer Blogging. Think of creative ways to incorporate summer themes into your online marketing content to keep readers engaged… “grilling tips”, “summer salad recipes”, “instructions on fish cleaning”, “explain how to crack a lobster”, “best local boating trips”, “golf course review”, “wine trails”, “craft brewery visits”, “beach fun” etc.

7) Tax Prep. Take this time to get all of your tax information on track for the year.

8) Volunteer. Spend time giving back to those who are less fortunate then yourself, it’s also one of the best opportunities for networking & self branding!

9) Review Your Annual Business Plan. Are you on track to achieve your goals? How will you attack the rest of the year? Do you need to update your goals and your plan to achieve them?

10) Re-Charge and Relax. Take one or more well deserved vacations so you are fresh and ready for Fall Time Action!

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Why Millennials Make Great Commercial Real Estate Agents

In with the new boom, out with the old boom. The American workforce now has more Millennials than baby boomers. Generationally, these 20-and-30-somethings grew up during the initial tech boom and social media explosion. Their unique experience means millennials can build bridges between the old ways of accomplishing deals and the modern workflow. Millennials bring more than an ability to work a rolodex and navigate social media to the workforce. Particularly in commercial real estate, the millennial generation’s overarching attitude and love for tech equip them for success.

Millennials Embrace Technology

Having wet their toes fording the Oregon Trail, practiced social networking on AOL Instant Messenger, and remembering when Facebook was only for college kids, millennials jump on experimenting with and adopting emerging tech trends. After all, this is the generation that moved from disc players to iPods, landlines to flip cell phones to the first Blackberry. Now that the CRE industry is catching up in terms of technological innovation, Millennials are on the forefront of the Internet of Things and Software-as-a-Service (SaaS) adoption. Millennials welcome the tools that make working in CRE easier: customer relationship management solutions, automated marketing tools, and video tours. Thanks to this generation’s willingness to try new tools, the CRE industry is seeing more listings with virtual reality tours, more content marketing on new developments, and the re-invention of retail spaces.

Efficiency is King

The reason why millennials jump on new tech developments corresponds to the generational love of efficiency. Why waste time calling brokers for details when a simple text will suffice? Don’t mistake efficiency for laziness. Millennials make the personal contacts that close CRE deals, but instead of relying just on a contact database, they are more willing to work the Internet. Using their social networks, millennials have a broad reach to leverage to their advantage. They don’t want to waste their time–or their clients–looking at properties that are not the right fit. For clients that like to be in the know, millennial CRE agents use technology to keep clients in the loop via text, email, and phone. The millennial generation’s positive outlook and enthusiasm, combined with an attention to detail, make this group ideal CRE agents and brokers.

Millennials Like Data

Numbers and data don’t scare away millennials. Rather, they’re interested in using the numbers to their advantage. How can they improve their processes? How much more efficient will this SaaS make them? Just look at new startups disrupting the CRE industry: many are data-based providers with a focus on using numbers to reduce inefficient workflows. The CRE industry relies on hard data to everything from justifying a leasing price to reducing time spent on rent rolls. In embracing these data tools, millennial CRE agents produce better results for their clients.

No Millennial is an Island

Millennials value collaboration. In the CRE industry, the ability to work with numerous partners to close a deal is essential. Commercial property deals take time to negotiate, whether leasing, buying, or selling. Millennials are willing to do whatever they can to satisfy their clients and sign the dotted line.

We’re Hiring!

Think you have what it takes to be a Commercial Real Estate Agent? Send your resume to info@naielite.com 

PRICE REDUCTION!

Downtown Hartford

Mixed Use Office/Retail Building |32,144SF||$1,449,000

 

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Walking Distance to Union Station, XL Center, Bushnell Park & More!

Views of CBD & State Capitol

Rooftop Patio w/ Elevator Access

Billboard Signage Visible from I-84

Underground Parking!!

**Full 5% Fee to Buyer Broker If Closed Before July 4th!**

Contact info@naielite.com for more information!